And this is an offence by stock market regulations of many countries as it is considered market manipulation and profiting from it. But let's forget all that and consider their reports to be true because that's what you may believe in.
It is well known in India that Adani is seen as close to PM Modi and the BJP. It is also well known that Adani helps India by making risky investments in ports, logistics and mining in far away countries securing India's interests.
We need to understand, tomorrow, these same "activist" firms may hit Reliance and TATA too if they are seen as a front for the Indian government in geopolitics, buying ports to compete with rivals and mines to secure supplies. In fact, these two companies have higher debt than Adani.
Should we cheer that too?
It doesn't matter which party's government is in power or which country it is, companies are used by the state to further its own interests. And corporates are well known to work for political parties around the world.
In the US, Amazon is openly known to fund and support one party - the Democrats. Amazon was making losses for a long time yet overvalued in the stock market for many, many years with a lot of debt.
Did anyone do a hit job on Amazon shorting its stocks while publishing reports, how much ever it may be true? No, because Amazon works for US national interests. No party in the US will try bringing it down. Same with Tesla and many other US companies.
In fact, the US is well known for bailing out private companies in the name of national interest using tax payer's money. That's why countries like the US, UK and China are so powerful. They use their companies to be a in geopolitics and in projecting power. Remember EIC?
Today, you may cheer that Adani is getting hit and you may love it because it is considered a crony of the BJP. But it is the Indian economy and India, the country that will suffer, whih includes you. They will continue to hit and hurt our companies no matter which party is in power.
Unfortunately, in India, we are slaves of petty local politics and do not understand great power geopolitics. Great power geopolitics is what actually drives our growth and future in this globalized world.
Until Indians and our political parties rise up over petty politics in the interests of India like the US or UK, we will forever be a third world country ruled over and used by the west as a market and a source of cheap labour.
Anyways, enjoy your cheering for loss of Indians and Indian companies created by foreign forces while it lasts.
We can't digest Ambani, Adani or a Baba. We are okay with Amazon, Walmart, Tesla, Samsung, Hyundai, Honda getting rich.
My take
It's crystal clear that inimical international forces are at work to deny PM Modi a success in the General Elections of 2024, which he is assured of by the tremendous work that he has done and brought the country to its present eminence in the world. His vision and statesmanship have been accepted by the world leaders and make him their natural leader and many of them seek advice from him for their internal problems!
I'm sure Prime Minister Narendra Modi will overcome all obstacles and come up trumps as we navigate ahead in time.
Tailpiece.
Got up at a half past 6, the chores and was ready by a quarter to 10.
It was a quiet Sunday.
Helped Lekha water the plants in the evening.
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